Across the UK, an estimated 85,610 home sales took place in September 2023, which was also 1 lower than in August, HMRC said.
The number of home sales in September was 17% lower than in the same month in 2022, according to HM Revenue and Customs figures
Strong wage growth may also help to support some transactions, although households remain squeezed by rising bills. Charlotte Nixon, a mortgage expert at wealth manager Quilter, said if the number of property deals continues to drop “prices will drop with them”. Riz Malik, director at Southend-on-Sea-based independent mortgage broker R3 Mortgages, said: “With more ghoulish economic data ahead, people will continue to sit on their hands.”
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